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| Crypto analysts foresee a healthy growth of the overall sector |
Majority cryptocurrencies opened with losses on Monday, February 14. Bitcoin incurred a loss of 0.82 percent and opened trading at $44,528 (roughly Rs. 33.5 lakh) on Indian exchange CoinSwitch Kuber. Last week proved to be fruitful for Bitcoin as the crypto asset managed to take its value over $45,000 (roughly Rs. 34 lakh) after weeks of struggle. BTC did, however, see losses of around 0.94 percent on international exchanges today. Each token is trading at around $41, 906 (roughly Rs. 31.5 lakh) on Binance, CoinMarketCap, and Coinbase.
Registering a loss of 1.96 percent, Ether also did not mark a strong start to the beginning of the new week. Following Bitcoin, ETH prices fell by 2.13 percent. The crypto asset is currently priced $3,041 (roughly Rs. 2.30 lakh) on Gadgets 360's crypto price chart.
Despite minor losses, both BTC as well as ETH are in a better position this month in terms of daily trading value.
The overall crypto chart, however, looks slightly tensed with minor losses having dented majority altcoins.
Popular cryptocurrencies like Binance Coin, Ripple, Cardano, Solana, and Polkadot among others saw small losses.
Surprisingly, meme-based Dogecoin and Shiba Inu saw 0.48 percent and 1.39 percent gains in their values, respectively.
Currently, DOGE is trading at $0.15 (roughly Rs. 11.5) while SHIB value is around $0.000031 (roughly Rs. 0.002335).
The SHIB coin has been seeing small gains since the start of this month, especially after its anonymous makers recently announced its first upcoming metaverse project that will auction “Shiba Lands” as a virtual real estate project.
Tether and USD Coin have also emerged as gainers on the crypto charts today.
Crypto analysts foresee a healthy growth of the overall sector. “Retail investments into crypto are also ramping up. With the growing demand, legitimacy and impact that digital assets have on the global market, there continues to be shared optimism and support in the sector, cementing crypto's position in the long-term,” the research team at CoinSCX told Gadgets 360.
US financial authorities are likely to bring in policies sooner than later, to disrupt risk appetites associated with the crypto market.
Meanwhile, Uber has expressed inclination towards accepting crypto payments “at some point.”
As per CoinMarketCap, the total market capitalisation has also risen to $1.86 trillion (roughly Rs. 1,41,00,900 crore) from $1.72 trillion (roughly Rs. 1,28,63,420 crore) that was recorded on February 4.
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